HMRC cuts late payment interest rate to 8.25%
HMRC will reduce late payment and repayment interest rates from 28 May following the 0.25% cut in the base rate last week. The Bank of England cut the base rate…
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Record numbers file assessment in first week of new tax year
Almost 300,000 people filed their tax return in the first week of the new tax year, setting a new record, HMRC has revealed. Self assessment taxpayers can submit their tax…
One in four employers plan to make redundancies in next quarter
The number of employers expecting to increase staff numbers in the next three months has fallen to a record low outside of the pandemic, according to research from the Chartered…
Tax and accounting bodies back e-invoicing adoption
The UK’s professional tax and accounting bodies have backed the adoption of e-invoicing in their responses to a government consultation. The Chartered Institute of Taxation (CIOT) says that HMRC will…
Parents of teens reminded to extend Child Benefit claim online
Parents of 16 to 19-year-olds will receive reminders from HMRC to extend their Child Benefit claim by 31 August if their child is staying in education or training or payments…
Business group welcomes launch of Code of Practice
The Institute of Directors (IoD) has welcomed the launch of the government’s new Cyber Governance package, which is underpinned by the Cyber Governance Code of Practice. The Code of Practice…
Tax red tape costs small businesses nearly £25 billion a year
Tax compliance costs the UK’s small businesses nearly £25 billion a year, according to recent research conducted by the Federation of Small Businesses (FSB). The average small firm spends £4,500…
Government taking right approach to tariff negotiations
The UK government is taking the right approach to tariff negotiations with the US despite downgrades to the economic outlook, says the British Chambers of Commerce (BCC). The International Monetary…
Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics, including: Internet link: GOV.UK
Companies House begins to verify identities
A new service has been launched that allows individuals to verify their identity directly with Companies House through GOV.UK. The introduction of identity verification is one of the key changes…
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